Rob Preston from Oracle has advised that retailers need to keep 5 key points in mind which utilising technology this holiday season. A typical retailer generates 20% of its annual revenue during the Christmas shopping period.
- Know the customer: here Rob highlights that customers are more likely to engage if the offers and promotions they are being presented with are relevant to them.
- Delivering the ‘Omnichannel’ experience: retailers need to deliver the ‘seamlessly connected experience’ from the physical store through to social media, website. The whole shopping experience for the customer is important.
- Delivering the basics: whilst consumers do enjoy the benefits modern technology can bring to the shopping experience, they still place great emphasis on product quality, value and availability.
- Focus on customising the right aspects of technology: only use non-standard technology where there is a competitive advantage to be had.
- Customers are in charge: they are making the decisions on what is sold and where and how. It is the retails’s responsibility to know whats required of them.
Full article available at: http://www.forbes.com